Piper Jaffray Cos. (PJC) Sees Unusually-High Trading Volume
Shares of Piper Jaffray Cos. (NYSE:PJC) saw unusually-high trading volume on Friday . Approximately 168,857 shares changed hands during trading, an increase of 91% from the previous session’s volume of 88,513 shares.The stock last traded at $43.07 and had previously closed at $43.59.
Separately, TheStreet lowered shares of Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $43.80.
The firm has a market cap of $655.27 million and a P/E ratio of 28.64. The stock’s 50 day moving average price is $41.76 and its 200-day moving average price is $42.53.
Piper Jaffray Cos. (NYSE:PJC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.35. The business had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $143.86 million. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. On average, analysts forecast that Piper Jaffray Cos. will post $3.58 EPS for the current year.
In other news, insider Thomas Gregory Smith sold 2,500 shares of Piper Jaffray Cos. stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $41.42, for a total transaction of $103,550.00. Following the completion of the transaction, the insider now directly owns 13,751 shares of the company’s stock, valued at approximately $569,566.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher D. Crawshaw sold 5,000 shares of Piper Jaffray Cos. stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $41.88, for a total transaction of $209,400.00. Following the transaction, the insider now directly owns 51,651 shares of the company’s stock, valued at $2,163,143.88. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Piper Jaffray Cos. stock. Bank of Montreal Can boosted its stake in shares of Piper Jaffray Cos. (NYSE:PJC) by 3,579.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,963 shares of the company’s stock after buying an additional 66,116 shares during the period. Bank of Montreal Can owned about 0.51% of Piper Jaffray Cos. worth $2,745,000 at the end of the most recent quarter.
Piper Jaffray Companies is an investment bank and asset management firm serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services including equity and debt capital markets products, public finance services, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research and asset management services.
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